One app for all your study abroad needs
Germany has over 80 million people and a diverse range of religions, customs, and traditions that contribute to the country’s distinct culture. Germany is renowned for its long and illustrious history, which has seen it at the forefront of European ideas, politics, and art for over a thousand years. In this blog, you’ll get an insight into MBA in Finance in Germany.
Its borders include Denmark, Poland, France, Luxembourg, Belgium, the Netherlands, the Baltic Sea, and the North Sea. Furthermore, you can benefit from the fantastic transportation connections between Germany and other European countries while studying in Germany. This will enable students to visit and explore other well-known cities in Europe, enhancing their study abroad experience.
| Program | MBA in Finance |
| Location | Germany |
| Top Universities For MBA In Finance | Mannheim Business School, Frankfurt School of Finance and Management, and WHU-Otto Beisheim Graduate School of Management |
| Average Annual Tuition Fees | EUR 24,098 to EUR 40,500 |
| Job Scope | Consultant, Finance Manager, Project Manager, and MIS Executive |
| Average Annual Salary After Graduation | EUR 79,000 to EUR 127,000 |
This Blog Includes:
Why Study in Germany?
As a destination for business education, Germany offers a variety of MBA opportunities and long-term career prospects. Professionals interested in becoming aspiring managers are considering pursuing an MBA in Germany due to its high-quality education, affordable courses, and the presence of a robust economy.
Students seeking higher education in Germany have the advantage of being able to select from a diverse range of programmes and schools. They can choose from hundreds of MBA courses offered in the country by private and public institutions of higher learning such as business schools, art schools, colleges, technical colleges, universities, and universities of technology.
Students who choose Germany as their preferred MBA destination can either pursue a traditional MBA Degree that focuses on general management or take a more unconventional approach and enrol in specialised MBA Programs that focus on niche industries such as healthcare management, consulting and logistics, to name a few. The fact that students can choose from such a diverse range of MBA programmes has propelled Germany to the forefront of global education.
MBA in Finance: Course Overview
Master of Business Administration in Finance Management or MBA in Finance Management is a two-year postgraduate programme that is concerned with the management of accounts and finances of companies for them to achieve specific financial objectives. The programme gives students in-depth knowledge of pricing, asset management, risk management, financial planning, and other topics.
This course is open to students with a BBA or any other bachelor’s degree. Candidates who have completed a master’s degree in any other field of study should consider pursuing an MBA in Finance Management to advance their careers.
Finance Management is an excellent career path for students with strong financial knowledge and analytical skills, as well as those with a thorough understanding of financial models and the stock market. With its growing popularity, it is now possible to pursue it full-time, part-time, executive, and online.
MBA Finance courses cover a wide range of topics, including the cost of capital, financial planning, and financial management. Candidates learn how to apply theoretical knowledge in the real world of finance and trading during the programme.
Must Read: Aerospace Engineering in Germany
Top Universities in Germany For MBA In Finance
MBA programmes in finance colleges in Germany include Executive, Online, and International MBAs. The German business schools are renowned for offering one of the best MBA programmes in Europe. The best MBA finance colleges in Germany are as follows:
| University | Fee in EUR Annually | Fee in INR Annually |
| Mannheim Business School | 40,500 EUR | Rs 33,32,707 |
| Frankfurt School of Finance and Management | 38,943 EUR | Rs 32,04,583 |
| WHU-Otto Beisheim Graduate School of Management | 39,951 EUR | Rs 32,87,530 |
| European School of Management & Technology (ESMT) | 24,098 EUR | Rs 19,83,002 |
| European Business School | 24,214 EUR | Rs 19,92,547 |
MBA in Finance in Germany: Admission Requirements
The admission process for an MBA in finance in Germany varies by university. The online application procedure and the necessary documents, however, are still the same. You need to apply for admission from the official website of the university.
Documents Required
A student who wishes to pursue an MBA in finance in Germany must submit the following documents:
- Bachelor’s degree that is recognised
- Transcripts of Undergraduate Studies
- SOP
- LOR
- Resume/CV
- English Proficiency Test score
- Working knowledge
- Financial Records
Eligibility Criteria
In Germany, there are two types of universities: public and private. Each university in Germany has its own set of prerequisites for admission to the MBA programme. In Germany, an MBA can be obtained without prior work experience, which is not the case in many other countries.
Because German colleges are not governed by a centralised authority, MBA requirements in Germany are quite diverse. The following are the general eligibility criteria:
- A bachelor’s degree in relevant fields is equivalent to a bachelor’s degree in Germany; it can be a four-year degree or a three-year degree with a one-year master’s degree.
- Valid GMAT/GRE/IELTS/TOEFL score. Exam scores are accepted differently by each university. Because most German colleges only require a valid TOEFL score, it is possible to apply for an MBA in Germany without taking the GMAT.
- Basic knowledge of the German language is required. Although most German colleges offer MBA programmes in English, having language skills is preferred.
- Working Knowledge
Cost of Living and Pursuing an MBA in Finance in Germany
Germany is one of the most cost-effective countries in Europe. You will spend about 902 EUR/Rs 74,230 per month as an Indian student studying in Germany. Your yearly living expenses as an international student in Germany will be approximately 10826 EUR/Rs 8, 90,760 with this monthly spending.
Students will incur the following expenses:
| Types of Costs | Cost in EUR | Cost in Rs |
| Accommodation | 400 EUR | Rs 32912 Approx Monthly |
| Transportation | 200 EUR | Rs 16,456 Approx monthly |
| Study Materials | 50 EUR | Rs 4114/- Monthly Approx |
| Health Insurance | 103.94 EUR | Rs 8474 Monthly |
If you are pursuing an MBA in Germany, the expenses will vary depending on the institute you attend. The fee is currently around 30K EUR/ Rs 2469174. Each university has its own set of tuition and fees. Students attending public universities that do not charge tuition must only pay a semester fee of approximately 500 EUR/ Rs 41152 per semester.
Scholarships
International students who want to enrol in a German university’s MBA programme in finance benefit from scholarships because they can use them to pay all or part of their tuition. Some of the best MBA scholarships in Germany for Indian and international students are listed below:
| Scholarship | Eligibility | Amount |
| Semester Scholarships for Students of Indian Institutes of Management (IIM) | Students of IIM Ahmedabad, Bangalore, Indore, Kolkata, Kozhikode, Lucknow, or Udaipur in the second year of their postgraduate study | 750 EUR/ Rs 61,729Health, accident and liability insurance cover |
| Master’s Scholarships for Public Policy and Good Governance (PPGG) | Graduates with a strong academic record want to pursue a master’s degree in a field that is particularly relevant to their native country’s social, political, and economic growth. | 750 EUR/ Rs 61,729 monthly |
| Central Sector Scheme of National Overseas Scholarship | Indian students with good academic records | 35956 EUR/ Rs 2959388/- |
| Friedrich Ebert Foundation: Scholarship for International Students | Students who have been accepted to a German Higher Education Institute and have an outstanding academic record are eligible to apply for the award. | Amount- 670 EUR/ Rs 55144/- |
Must Read: Top Scholarships to Study in Germany
Job Profiles and Salary
Thanks to its cutting-edge infrastructure and growing demand for Business Management professionals, Germany is a hotspot for MBA specialists. MBA finance salary in Germany is quite promising. Students can work part-time while studying. Working as a student part-time in Germany can earn you a minimum wage of 9.19 EUR/Rs 781.35 per hour. This income varies according to where you live and what type of job you have. Some recruiters and pay scales are listed below:
| Job Position | Company | Annual Package |
| Consultant | Siemens | 79,000 EUR/ Rs 6.50 Cr yearly |
| Finance Manager | BMW | 127,000 EUR/ Rs 1.04 Cr yearly |
| Project Manager | Deutsche Bank | 83,000 EUR/ Rs 68.31 Lakh yearly |
| MIS Executive | Porsche | 85,000 EUR/ Rs 69.95 Lakh yearly |
Relevant Reads:
FAQs
Ans. German MBA programmes give students better exposure and prepare them for the challenges of the corporate world. Germany is one of the most sought-after MBA study destinations in the world, with cutting-edge infrastructure, world-class facilities, and no tuition fees.
Ans. Germany is regarded as the best country for studying finance due to its high-quality education and extensive programme offerings. Graduates with a degree in finance can use the skills they’ve learned in corporate finance and business firms.
Ans. MBA in Finance is just as demanding as any other MBA programme. However, because Maths and Statistics are used more frequently, some students may find it more difficult than other specialisations.
This was all about MBA in Finance in Germany. If you plan to study abroad, connect with our Leverage Edu experts at 1800 57 2000 and book a 30-min free counselling session.
45,000+ students realised their study abroad dream with us. Take the first step today.